XML 19 R7.htm IDEA: XBRL DOCUMENT v3.19.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net income $ 31,504 $ 237,405
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 72,230 70,339
Amortization of debt issuance costs and debt discounts and premiums 1,652 1,411
Straight line rental income (1,934) (2,993)
Amortization of acquired real estate leases and other intangible assets (1,525) (1,381)
Loss on early extinguishment of debt 0 130
Impairment of assets 6,206 0
Loss (gain) on sale of properties 122 (181,154)
Unrealized gains and losses on equity securities, net 22,932 27,241
Other non-cash adjustments (943) (943)
Equity in earnings of an investee (404) (44)
Change in assets and liabilities:    
Other assets (5,862) 3,097
Accrued interest 9,059 17,088
Other liabilities (45,658) (31,680)
Net cash provided by operating activities 41,515 84,034
Cash flows from investing activities:    
Real estate acquisitions and deposits 0 (122,221)
Real estate improvements (46,237) (13,443)
Proceeds from sale of properties 2,929 216,013
Net cash (used in) provided by investing activities (43,308) 80,349
Cash flows from financing activities:    
Proceeds from issuance of senior unsecured notes, net 0 491,560
Proceeds from borrowings on revolving credit facility 178,000 316,000
Repayments of borrowings on revolving credit facility (92,000) (857,000)
Repayment of other debt (1,309) (6,166)
Loss on early extinguishment of debt settled in cash 0 (130)
Payment of debt issuance costs 0 (4,296)
Repurchase of common shares 0 (90)
Distributions to noncontrolling interest (5,503) (5,667)
Distributions to shareholders (92,714) (92,674)
Net cash used in financing activities (13,526) (158,463)
(Decrease) increase in cash and cash equivalents and restricted cash (15,319) 5,920
Cash and cash equivalents and restricted cash at beginning of period 70,071  
Cash and cash equivalents and restricted cash at end of period 54,752 53,241
Supplemental cash flows information:    
Interest paid 35,034 25,053
Income taxes paid 31 0
Non-cash investing activities:    
Acquisitions funded by assumed debt 0 (27,798)
Non-cash financing activities:    
Assumption of mortgage notes payable $ 0 $ 27,798